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A recent report from the National Taxpayers Union Foundation found that the new House Majority has brought a budget axe to Washington, finding that “the GOP-controlled House of Representatives has proposed even more spending reductions (in total dollars adjusted for inflation) than the ‘revolutionary’ 104th Congress led by Newt Gingrich.”

Some key findings of the report, which surveyed all bills introduced in the current session of Congress, include:

"Over the first 100 session days of the 112th Congress, the net result should all non-overlapping proposed legislation pass would be $153 billion in spending cuts."

"House bill-writing activity shows a tilt away from spending hikes. In the first 100 days, House Members drafted roughly five bills to boost expenditures for every bill that would shrink them. This is a drastically smaller margin than the 27 spending bills per cut bill proposed in the 111th Congress. "

"Republicans have led a surge in the amount of budget reductions proposed. The average Republican sought $63 billion in net savings"

"Democrats have only slowed, not reversed, support for spending increases. The average Democrat sought $6.3 billion in net expenditure hikes"

Spending cutters took aim at health care. "Republicans in particular focused on health-expenditure reductions ($44.4 billion)," like repeal of ObamaCare.

The report shows that the new House Majority is serious about keeping the GOP’s Pledge to America by proposing spending cuts that economists say are necessary to lift the uncertainty hanging over businesses help the private sector begin hiring again.